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Union Calendar No. 227 

116TH CONGRESS 

1ST SESSION H. R. 3141 

[Report No. 116–282] 

To limit the collection of annual premiums under the FHA program for 

mortgage insurance for single family housing, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 5, 2019 

Mr. PHILLIPS introduced the following bill; which was referred to the 

Committee on Financial Services 

NOVEMBER 12, 2019 

Reported with an amendment, committed to the Committee of the Whole 

House on the State of the Union, and ordered to be printed 

[Strike out all after the enacting clause and insert the part printed in italic] 

[For text of introduced bill, see copy of bill as introduced on June 5, 2019] 


pamtmann on DSKBC07HB2PROD with BILLS
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•HR 3141 RH

A BILL 

To limit the collection of annual premiums under the FHA 

program for mortgage insurance for single family housing, and for other purposes. 


pamtmann on DSKBC07HB2PROD with BILLS
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•HR 3141 RH

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘FHA Loan Affordability 

5 Act of 2019’’. 

6 SEC. 2. ANNUAL PREMIUMS. 

7 (a) IN GENERAL.—Paragraph (2) of section 203(c) of 

8 the National Housing Act (12 U.S.C. 1709(c)(2)) is amend9 ed— 

10 (1) in subparagraph (B)— 

11 (A) in clause (i), by striking ‘‘For any’’ 

12 and inserting ‘‘Subject to subparagraph (D), for 

13 any’’; and 

14 (B) in clause (ii), by striking ‘‘For any’’ 

15 and inserting ‘‘Subject to subparagraph (D), for 

16 any’’; 

17 (2) in subparagraph (C)(i), by striking ‘‘In ad18 dition’’ and inserting ‘‘Subject to subparagraph (D), 

19 in addition’’; and 

20 (3) by adding at the end the following new sub21 paragraph: 

22 ‘‘(D) The Secretary may not collect any annual 

23 premiums under this paragraph with respect to a 

24 mortgage at any time that the remaining insured 

25 principal balance (excluding the portion of the reVerDate Sep 11 2014 00:37 Nov 13, 2019 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6203 E:\BILLS\H3141.RH H3141

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•HR 3141 RH

1 maining balance attributable to the premium collected 

2 under subparagraph (A)) is 78 percent or less than 

3 the lower of (i) the sales price of the dwelling at the 

4 sale in connection with which the mortgage was 

5 made, or (ii) the appraised value of the dwelling at 

6 the time of the origination of the mortgage.’’. 

7 (b) APPLICABILITY.—The amendments made by sub8 section (a) of this section shall apply with respect only to 

9 mortgages insured by the Secretary of Housing and Urban 

10 Development after the date of the enactment of this Act. 


pamtmann on DSKBC07HB2PROD with BILLS

pamtmann on DSKBC07HB2PROD with BILLS
Union Calendar No. 227 

116TH CONGRESS 

1ST SESSION H. R. 3141 

[Report No. 116–282] 

A BILL 

To limit the collection of annual premiums under 

single family housing, and for other purposes. the FHA program for mortgage insurance for 

NOVEMBER 12, 2019 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 


pamtmann on DSKBC07HB2PROD with BILLS